Denali Capital Acquisition Corp. Announces Extension of Deadline to Complete Business Combination
Denali Capital Acquisition Corp. (NASDAQ: DECA) has announced a one-month extension for completing its business combination, moving the deadline from August 11, 2024, to September 11, 2024. To fund this extension, the company deposited $15,063.74 into its trust account. The deposit was financed through a convertible promissory note issued to Scilex Holding Company (NASDAQ: SCLX) with a principal amount of up to $180,000. The note is interest-free and convertible into DECA's Class A ordinary shares at $10.00 per share upon closing a business combination. The remaining $164,963.26 of the note may be used for future extensions if needed.
Denali Capital Acquisition Corp. (NASDAQ: DECA) ha annunciato un'estensione di un mese per completare la sua combinazione aziendale, spostando la scadenza dall'11 agosto 2024 all'11 settembre 2024. Per finanziare questa estensione, la società ha depositato $15,063.74 nel suo conto fiduciario. Il deposito è stato finanziato tramite un pagherò convertibile emesso a Scilex Holding Company (NASDAQ: SCLX) con un importo principale di fino a $180,000. Il pagherò non prevede interessi ed è convertibile in azioni ordinarie di Classe A di DECA a $10.00 per azione al momento della chiusura della combinazione aziendale. Il restante $164,963.26 del pagherò può essere utilizzato per future estensioni se necessario.
Denali Capital Acquisition Corp. (NASDAQ: DECA) ha anunciado una extensión de un mes para completar su combinación comercial, moviendo la fecha límite del 11 de agosto de 2024 al 11 de septiembre de 2024. Para financiar esta extensión, la compañía depositó $15,063.74 en su cuenta fiduciaria. El depósito fue financiado a través de un pagaré convertible emitido a Scilex Holding Company (NASDAQ: SCLX) con un monto principal de hasta $180,000. El pagaré no devenga intereses y es convertible en acciones ordinarias de Clase A de DECA a $10.00 por acción al cerrar la combinación comercial. El restante $164,963.26 del pagaré puede ser utilizado para futuras extensiones si es necesario.
Denali Capital Acquisition Corp. (NASDAQ: DECA)는 사업 결합을 완료하기 위한 한 달의 연장을 발표했으며, 마감일을 2024년 8월 11일에서 2024년 9월 11일로 변경했습니다. 이 연장을 위해 회사는 신탁 계좌에 $15,063.74를 입금했습니다. 이 입금은 Scilex Holding Company (NASDAQ: SCLX)에게 발행된 전환형 약속어음을 통해 자금을 조달하였습니다. 주요 금액은 최대 $180,000입니다. 이 약속어음은 무이자로 제공되며, 사업 결합이 완료될 때 DECA의 클래스 A 보통주로 $10.00 per share로 전환됩니다. 약속어음의 나머지 $164,963.26는 필요 시 향후 연장을 위해 사용할 수 있습니다.
Denali Capital Acquisition Corp. (NASDAQ: DECA) a annoncé une prolongation d'un mois pour finaliser sa combinaison d'affaires, déplaçant la date limite du 11 août 2024 au 11 septembre 2024. Pour financer cette prolongation, la société a déposé $15,063.74 sur son compte de fiducie. Le dépôt a été financé par un promesse de prêt convertible émis à Scilex Holding Company (NASDAQ: SCLX) d'un montant nominal pouvant atteindre $180,000. La note est sans intérêt et convertible en actions ordinaires de Classe A de DECA à $10.00 par action lors de la conclusion de la combinaison d'affaires. Le reste de $164,963.26 de la note peut être utilisé pour de futures prolongations si nécessaire.
Denali Capital Acquisition Corp. (NASDAQ: DECA) hat eine einmonatige Verlängerung für den Abschluss seiner Unternehmenszusammenführung angekündigt und den Fristtermin vom 11. August 2024 auf den 11. September 2024 verschoben. Um diese Verlängerung zu finanzieren, hat das Unternehmen $15,063.74 auf sein Treuhandkonto eingezahlt. Die Einzahlung wurde durch einen wandelbaren Schuldschein finanziert, der an Scilex Holding Company (NASDAQ: SCLX) mit einem Hauptbetrag von bis zu $180,000 ausgegeben wurde. Der Schuldschein ist zinslos und kann bei Abschluss der Unternehmenszusammenführung in DECA's Klasse A ordentliche Aktien zu $10.00 pro Aktie umgewandelt werden. Die verbleibenden $164,963.26 des Schuldscheins können bei Bedarf für zukünftige Verlängerungen verwendet werden.
- Extension provides additional time to complete a business combination
- Funding secured through interest-free convertible promissory note
- Potential for future extensions with remaining note balance
- Delay in completing initial business combination
- Potential dilution for existing shareholders if note is converted
NEW YORK, NEW YORK, , Aug. 09, 2024 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQ: DECA) (the “Company”) announced today that it has deposited into the Company’s trust account (the “Trust Account”) an aggregate of
About the Company
Denali Capital Acquisition Corp. is a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press release includes forward looking statements that involve risks and uncertainties. Forward-looking statements are subject to numerous conditions, risks and changes in circumstances, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
FAQ
What is the new deadline for Denali Capital Acquisition Corp (DECA) to complete its business combination?
How much did Denali Capital Acquisition Corp (DECA) deposit to fund the extension?
What is the source of funding for DECA's extension deposit?
What are the terms of the convertible promissory note issued by DECA?
